Good point re: the fib levels... When doing my backtests, the "significant" highs/lows I spotted averaged around 100 pips away from the entry price. Perhaps my test results would have been better had I used smaller stops where possible.

The Bat...a strategy by Team Aphid

I have mine at 1.9635. BTW, in my backtesting of this strategy, 2005 was pretty poor while '04 and '06 were pretty decent. Here are my results: 2004: 5818 pips 2005: 1100 pips 2006: 5355 pips 2007: 1239 pips edit: This is with the "5 lot version" ...

The Bat...a strategy by Team Aphid

This may not be the appropriate place to say this, but to anyone looking at this EA who doesn't have a significant amount of Forex experience, please be careful!! Firebird in the hands of a new trader is like a 600 HP sports car in the hands of a ...

Firebird EA - fixed version -

I'm currently defining trends based on the 1H chart, but I don't know whether that is the best timeframe to use. I think I'll continue with the 1H charts for awhile... at least long enough to see all the different market conditions for sustained ...

Firebird EA - fixed version -

I've been following trends with Firebird in my live account since mid October. Given today's price action, I hope everyone has been applying some kind of trend analysis to this EA. It's not rocket science (i think I've said that before...). Just ...

Firebird EA - fixed version -

Do you anticipate more slippage or slower fills due to the use of standard lots? For my part, I plan to stay with a mini account until forced to change. I haven't checked with IBFX... With my other broker, mini accounts have a $50k limit.

Firebird EA - fixed version -

IMO, not only is it OK to disable Firebird as long as the reason is based on a pre-defined rule, but I think this type of intervention is entirely necessary. I suppose most "rules" can be programmed in, but I lack the skills in that area. In my ...

Firebird EA - fixed version -

Glen, just to clarify... Did you mean to type "pipstep"? Thanks.

Firebird EA - fixed version -

That's even funnier than you meant it to be.

Survey: Why 90% trader's failed?

I had 5 trades open today on the USD/CAD. 3 long and 2 short. 3 trades hit their limit. As of this writing, one trade is slightly positive and the other is at about -35 pips. The EUR/USD did not initiate any trades but 2 closed at their limit, but I ...

Firebird EA - fixed version -

Unfortunately, for me it's just manual. However, it must be my settings but I haven't had trouble with FB opening a large number of trades quickly. Usually not more than 2 or 3 per session, and only then if there is some volatility. I leave it on ...

Firebird EA - fixed version -

For me it's just a calculation of risk based on the stop loss assigned to each trade. I never allow total risk from all open orders to exceed 60% of my account. Knowing that FB is a "counter trend" system, I know I have to allow it the opportunity ...

Firebird EA - fixed version -

I've had good success with FB during news announcements. That's when spikes and retracements are likely to happen. For me, whether FB is on or off is detertimined entirely by current exposure and not related to news events.

Firebird EA - fixed version -

Something to keep in mind... In my back testing a years worth of EUR/USD data with V63G on the 1 minute charts with limit set @ 30 and SL @ 300, maximum float was -1425 pips. So, if you're planning to "set it and forget it" then I would have in mind ...

Firebird EA - fixed version -

The purpose of turning off the EA is to control the number of open orders. I never mentioned anything about "bad trades" in my post. In my opinion there are no bad trades until they stop out. They either stop out or limit out. Although the ones that ...

Firebird EA - fixed version -

Great post! This particular statement stood out to me because I think it is *very* important. My live account has been profitable all the way through this difficult time, and float has never exceeded about 25%. I think the key has been to control ...

Firebird EA - fixed version -

Caution is a good thing. EA's are simply tools in a traders box of systems and strategies. Unless a trader can see that they need management (like any other system), then no, they won't be profitable. In my opinion, if someone is a poor trader ...

Firebird EA - fixed version -

Been live 3 weeks now with good ole' V63G, and I'm quite happy with the results. Like Cthauber, I'm running the 30-300 settings with % = .1. Even with the current conditions, none of my stops even look close to being hit. However, as many of us have ...

Firebird EA - fixed version -

When the Big Shoe drops... — Wondering if we ought to start another thread related to this, or if perhaps it's too broad a subject to bother covering within the parameters of the Firebird EA... But the question is, how are we going to spot the ...

Firebird EA - fixed version -

Yep. It's all about the cash-sh-sh-sh. ;-) I'll bet that 5% success rate among real life traders jumps to about 90% among the demo crowd. Funny how they're playing by the exact same rules, but without the money. As long as a trader has the ability ...

Firebird EA, please test this one, it is one of the greats